X Will No Longer Allow Advertisers to Promote Their Accounts: Report

Social media firm X, previously often called Twitter, will not enable advertisers to advertise their accounts throughout the platform’s timeline to draw new followers, Axios reported on Tuesday, citing an electronic mail to promoting purchasers.

Promoted accounts, or “Follower Objective” advertisements, generate greater than $100 million (roughly Rs. 831 crore) yearly in world income for X, in keeping with the report.

X didn’t instantly reply to a Reuters request for remark.

Advertisers largely depend on promoted follower advertisements to drive enterprise on the platform and goal sure audiences.

CEO Linda Yaccarino, the previous promoting chief at NBCUniversal, has been making an attempt to rebrand the corporate’s picture since she began as CEO on June 5 and convey again advertisers who left the platform after Elon Musk’s adjustments.

Earlier this month, X was fined $350,000 (almost Rs. 3 crore) by the US Court of Appeals for the District of Columbia Circuit, which mentioned that the social media agency delayed complying with the US particular counsel investigating Donald Trump. The counsel had obtained a search warrant for the previous president’s Twitter account in January.

In July, Musk mentioned that month-to-month customers of X reached a “new high” and shared a graph that confirmed the newest depend as over 540 million.

Musk’s submit on X concerning the person figures got here as the corporate goes via organisational adjustments and appears to spice up promoting income, which has dropped in latest months.

Twitter had 229 million month-to-month lively customers in May 2022, in keeping with a press release made earlier than Musk’s buy of the agency in October. Musk posted in November that X had 259.4 million each day lively customers. 

© Thomson Reuters 2023